The bill proposes to revise procurement reporting requirements by mandating the Department of Administration to submit quarterly reports to the Legislative Finance Committee. These reports, due on March 1, June 1, September 1, and December 1 of each year, will include detailed information on procurement solicitations and contracts that are anticipated to cost $250,000 or more over their lifetime. Specifically, the reports will cover the purchasing agency's name, the intended procurement, the appropriation portion allocated for vendor payment, the solicitation closing date, and any other relevant information. Additionally, for contracts executed or modified that exceed the $250,000 threshold, the reports will include the names of the purchasing agency and contractor, along with the execution date.

Furthermore, the bill includes a codification instruction indicating that the new reporting requirements will be integrated into Title 18, chapter 4, part 1 of the Montana Code Annotated. This integration ensures that the provisions outlined in the bill will be treated as a part of the existing legal framework governing procurement processes in the state.